Baby boomers are consumers, not savers, especially when it comes to funding retirement, a new report confirms.

“The retirement savings shortfalls show that for those on the verge of retirement, the deficits vary from $19,304 per individual in married households, increasing to $33,778 for single males and $62,734 for single females,” according to the study, conducted by the Employee Benefit Retirement Institute.

Looking out further, millions of Americans between the ages of 25 and 55 are in the same fix.

The collective retirement assets of Americans are now trillions in the red.

The study concluded that the total national retirement deficit is now $4.13 trillion for all US households with members between 25 and 64 years old. But that amount could rise.

If Social Security benefits are reduced by the year 2033, then the $4.13 trillion deficit rises to $4.38 trillion.

If Social Security benefits are stopped altogether, it could jump to some $7 trillion, according to the EBRI report.

It said millions of baby boomers and Generation X-ers are now at risk of running out of money during retirement.

The EBRI study measures projected balances in five assets to determine if an individual or a couple will have enough: Social Security, defined contribution balances (such as 401(k) plans), IRA amounts, pension resources and housing equity.

“I put that number in to show how important Social Security is to retirement,” said Jack VanDerhei, EBRI research analyst.

The EBRI report also warned that women are more vulnerable to running out of money in retirement, since they usually live longer than men.